Will Nifty 50's breakout above 25,000 drive a rally to 25,300?
The NSE Nifty 50 index reclaimed the 25,000 mark on Wednesday, closing at 25,141.40—its highest level since October 14. This move follows a tight three-day consolidation between 25,055 and 25,222, reflecting a brief pause in market momentum.
According to analysts, the breakout signals a renewed bullish trend. 'The market was in a breather phase post-rally, but this breakout opens up room for further upside,' said Sudeep Shah of SBICAP Securities. However, Shah also noted that the Relative Strength Index (RSI) remains range-bound, suggesting limited short-term strength.
Akshay Chinchalkar of Axis Securities emphasized the significance of the move, calling it a breakout from a bullish consolidation with an upside target of 25,800. He pointed to the strong performance of small- and mid-cap stocks as evidence of growing investor risk appetite.
External factors are also aligning favorably. Easing US dollar strength, stabilizing interest rates, and reduced volatility are boosting investor sentiment, particularly with positive cues around India-US trade talks.
Of the 50 Nifty stocks, 28 advanced while 22 declined. The index touched an intraday high of 25,222.4, reinforcing the breakout narrative.
Bajaj Broking projects a further move towards 25,300 and 25,500 in the near term. 'Dips should be seen as buying opportunities with strong support at 24,900–25,000—the recent breakout zone,' the firm noted.
Market watchers now eye 25,300 as the next major resistance level. A decisive move beyond 25,222 could spark further gains, while a fall below 25,055 may trigger short-term profit booking.
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an hour ago
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